Brother
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Billions of cryptocurrencies stolen allow the state to effectively develop its nuclear program.
According to yesterday's Recorded Future security report, the Lazarus hacker group from North Korea has been actively targeting the cryptocurrency sector since 2017. This is due to the need to circumvent international sanctions imposed against the country.
Highly qualified North Korean specialists in computer science and mathematics, with privileged access to technology and information, use all their skills to conduct powerful cyber attacks on the cryptocurrency industry.
The US Treasury Department recently imposed multiple sanctions on the Sinbad cryptocurrency mixer used by the Lazarus group to launder illegally obtained funds.
The group is estimated to have stolen $ 3 billion worth of crypto assets over the past six years, of which about 1.7 billion were stolen in 2022 alone. Most of these funds are reportedly used to finance North Korea's weapons of mass destruction and ballistic missile programs.
Chainalysis, in its report on crimes in the cryptocurrency sphere for 2023, noted that North Korea has become one of the key figures in increasing the number of hacker attacks on DeFi protocols.
A report from the US Department of Homeland Security, published as part of the Analytical Exchange Program, also highlights the Lazarus group's use of DeFi protocols to steal cryptocurrencies. These platforms allow users to switch between cryptocurrencies, making it difficult to determine the source of theft.
Hackers from North Korea use social engineering to attack employees of cryptocurrency exchanges, attracting victims with promises of profitable work to spread malware. They also use phishing attacks, Water Hole attacks, and fraudulent schemes with Airdrop Scam and Rug Pull.
Especially noted is the use of mixers to hide financial traces. These services are often offered on cryptocurrency exchange platforms that do not apply KYC and AML policies.
The Recorded Future report concludes that without increased regulation, cybersecurity, and investment in the cybersecurity of cryptocurrency firms, the DPRK is likely to continue targeting the cryptocurrency industry as a source of additional revenue.
According to yesterday's Recorded Future security report, the Lazarus hacker group from North Korea has been actively targeting the cryptocurrency sector since 2017. This is due to the need to circumvent international sanctions imposed against the country.
Highly qualified North Korean specialists in computer science and mathematics, with privileged access to technology and information, use all their skills to conduct powerful cyber attacks on the cryptocurrency industry.
The US Treasury Department recently imposed multiple sanctions on the Sinbad cryptocurrency mixer used by the Lazarus group to launder illegally obtained funds.
The group is estimated to have stolen $ 3 billion worth of crypto assets over the past six years, of which about 1.7 billion were stolen in 2022 alone. Most of these funds are reportedly used to finance North Korea's weapons of mass destruction and ballistic missile programs.
Chainalysis, in its report on crimes in the cryptocurrency sphere for 2023, noted that North Korea has become one of the key figures in increasing the number of hacker attacks on DeFi protocols.
A report from the US Department of Homeland Security, published as part of the Analytical Exchange Program, also highlights the Lazarus group's use of DeFi protocols to steal cryptocurrencies. These platforms allow users to switch between cryptocurrencies, making it difficult to determine the source of theft.
Hackers from North Korea use social engineering to attack employees of cryptocurrency exchanges, attracting victims with promises of profitable work to spread malware. They also use phishing attacks, Water Hole attacks, and fraudulent schemes with Airdrop Scam and Rug Pull.
Especially noted is the use of mixers to hide financial traces. These services are often offered on cryptocurrency exchange platforms that do not apply KYC and AML policies.
The Recorded Future report concludes that without increased regulation, cybersecurity, and investment in the cybersecurity of cryptocurrency firms, the DPRK is likely to continue targeting the cryptocurrency industry as a source of additional revenue.
